U.S. Stocks Dip on Alphabet's Earnings Miss; Yen Rebounds

U.S. Market

* U.S. stock futures declined on Wednesday after Alphabet's disappointing earnings report.
* S&P 500 futures lost 0.5%, while Nasdaq futures fell 0.9%.
* Google parent Alphabet missed forecasts, leading to a 7% premarket drop in its shares.
* Investors downplayed President Trump's comments on taking over the Gaza Strip.

European Market

* European markets were influenced by a heavy earnings calendar.
* Novo Nordisk, Europe's most valuable company, rose 1.6% after exceeding fourth-quarter expectations.
* The STOXX 600 gained 0.1%.

Currency Markets

* The U.S. dollar weakened after a dip in Treasury yields.
* The Japanese yen rallied sharply against major currencies after positive wage data raised expectations of another rate hike by the Bank of Japan.
* The dollar fell 1% against the yen to 152.785 and 0.6% against the euro to 159.09.

Commodities

* Gold reached a new all-time high of $2,877 an ounce, supported by the weaker dollar and Treasury yields.
* Oil prices declined due to China's tariffs on U.S. oil imports.
* Brent crude futures fell 1.2% to $75.29 a barrel, and U.S. crude dropped 1.2% to $71.84.

Key Takeaways

* Alphabet's earnings miss dampened sentiment in U.S. equity markets.
* Positive wage data in Japan fueled expectations of monetary tightening and a surge in the yen.
* The dollar's strength waned as Treasury yields dipped.
* Gold continued its upward trajectory, reaching a record high.